Beauty is one of the fastest-growing industries in the world, with people across the globe wanting to become a part of it. According to a report by McKinsey & Company, the beauty market generated around $430 billion in revenue in 2022. This included fragrance, skincare, haircare, and makeup. The industry has remained resilient despite a turbulent macroeconomic environment, and has been on the path to recovery after the COVID-19 pandemic. The beauty market is anticipated to touch the $580 billion mark by 2027, which translates to a projected growth of 6% a year.
The Eye Makeup and Contact Lenses Market
The eye makeup market makes up a significant portion of the beauty industry, and typically includes products like eye shadow, eyeliner, mascara, and other relevant makeup product types. According to a report by Mordor Intelligence, the eye makeup market is expected to grow with a CAGR of 5.40% between 2019 and 2029. Although the fastest growing market for the eye makeup industry is the Asia and Pacific region, the largest market appears to be concentrated in North America. According to a report by Cosmetics Europe, the cosmetic industry in Europe supports more than 3.6 million jobs in the region. As of 2022, the industry generated around 254,256 direct jobs, along with approximately 2.78 million indirect jobs in the cosmetics value chain. In addition, for every ten job opportunities created by the cosmetics and personal care industry in Europe, at least two additional jobs crop up in the wider economy.
Another report by Mordor Intelligence shows that the market size for contact lenses stood at $10.23 billion as of 2024, and is expected to reach $12.24 billion by 2029. This translates to a positive growth rate standing at a CAGR of 3.66% between 2024 and 2029. While the fastest-growing market for contact lenses is in the Asia-Pacific region as of 2024, the largest market is concentrated in North America. You can also look at 20 Countries with the Most Beautiful Women in Asia and 15 Beauty Treatments That Are Expensive But Totally Worth It.
Key Players in the Cosmetic Industry
A number of prominent brands have been making advances in the industry, including increased accessibility of cruelty-free products. Some of these companies include The Estee Lauder Companies Inc. (NYSE:EL) and L'Oréal SA (EPA:OR). The Estee Lauder Companies Inc. (NYSE:EL) just completed its acquisition of the Canadian-based DECIEM Beauty Group Inc., a multi-brand company known for its flagship brand The Ordinary. Estee Lauder Companies Inc. (NYSE:EL) initially invested in DECIEM Beauty Group Inc., more commonly known as The Abnormal Beauty Company, in 2017. The former then became the majority owner of DECIEM Beauty Group Inc. in 2021, before eventually acquiring the remaining interests. The Ordinary is known for its innovative approach to skincare, with a number of its products specially made for the eyes.
L'Oréal SA (EPA:OR) reported a 9.4% increase in sales in Q1 2024, primarily driven by North America and Europe. Owner of Maybelline and Lancome brands, the French cosmetics company reported sales of $11.98 billion in the quarter that ended on March 31. Sales across North America and Europe increased by more than 12% in both regions, with the company’s dermatological products and mass market range making up for reduced demand in the luxury sector. L'Oreal SA (EPA:OR) is on its way to become the first beauty company to measure the environmental footprint of its retail elements by adopting the EcoDesignCloud by Eviden. As part of the company’s Future sustainability ambitions, the solution calculates the environmental footprint of the lifecycle of its promotional and point-of-sale materials. Here is what Antoine Vanlaeys, Chief Operations Officer, L’Oréal Groupe, had to say about it:
“Assessing the environmental performance of our suppliers will enable us to support our partners as well as lead the retail industry towards a more sustainable economy. This level of transparency and cooperation can also open up new avenues for innovation by exploring how different configurations, designs, materials, and processes can completely re-invent sustainable beauty experiences in-store. With our sourcing team, we are proud to onboard our ecosystem of suppliers and accelerate our transformation journey with a new, sustainable retail experience."
Now that we have taken an overview of the cosmetic industry with a special focus on eyes, let’s take a look at the country with the most beautiful eyes in the world. You can also look at 12 Best Beauty Stocks to Buy Now and
The Country With the Most Beautiful Eyes in the World
Photo by Sylwia Bartyzel on Unsplash
Our Methodology
In order to compile a list of the 20 countries with the most beautiful eyes in the world, we used a consensus approach and a visitor survey through Reddit. Firstly, we consulted ten online beauty expert resources to compile a list of the countries with the most beautiful eyes in the world. Next, we looked at eight Reddit threads that asked commenters to mention the countries with the most beautiful eyes in the world. We only chose threads that had more than 50 comments. We then counted the number of upvotes on each comment and chose the top 20 countries with the most number of upvotes. The 20 countries with the most beautiful eyes in the world are arranged in ascending order of their number of upvotes on Reddit.
Note: This list is not exhaustive and does not reflect our opinion. The ranking is solely based on the opinions of mass consumers on Reddit.
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The Country With the Most Beautiful Eyes in the World
1. India
Number of Reddit Upvotes: 1157
India ranks first on our list of the 20 countries with the most beautiful eyes in the world, with the highest number of upvotes on Reddit. The South Asian country is one of the largest countries in the world, with a population of 1.417 billion as of 2022, according to estimates by the World Bank. The country has immense diversity, with people belonging to various different ethnic backgrounds living together. As a result, the country’s facial features also feature great diversity. According to Reddit users, Indians have the power to emote with their eyes, which is especially the case for Indian women. Although their eye shape differs in different regions, Indians typically have a large wide set of eyes. Indian women are also known for using eye makeup products that accentuate their eyes, including kohl and eyeliner. Although most people in the country have dark eyes, hazel eyes are most common in South India. However, a portion of the population also has lighter eyes.
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